What does Statutory Surplus mean? Read on to discover the definition & meaning of the term Statutory Surplus - to help you better understand the language used in insurance policies.
A statutory surplus refers to the money that remains after an accounting system by an insurance regulatory board has deducted an insurance company's liabilities from its assets. The remainder is expected to be used to offset possible losses the company might suffer in the future.
We hope the you have a better understanding of the meaning of Statutory Surplus.